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Deckers Q2 Profits Soar

The company raised its outlook for the future.

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Deckers Outdoor Corp.’s second-quarter profits tripled, thanks to strong sales of its Ugg and Teva brands.
 
The Goleta, Calif.-based firm made a net profit of $9 million, or 23 cents a share, in the period ended June 30, up from $2.9 million, or 9 cents. It has also raised its sales and earnings outlook for the back half.
 
Net sales jumped 34 percent to $137.1 million, up from $102.5 million last year. Ugg sales increased 35 percent to $100.2 million, from $74.4 million last year, and Teva sales rose 38 percent to $31.2 million, from $22.6 million last year.
 
Angel Martinez, chairman, president and CEO of Deckers, said in a statement that the company had a solid spring season and is confident that it has a diversified product offering for fall that will gain traction in international markets going forward.
 
“The strong momentum Teva experienced to start the year carried forward into the second quarter, especially in our domestic wholesale channel. … The performance of our retail stores was also very encouraging with the growing year-round demand for the Ugg brand driving higher sell-through rates,” he added.

Same-store sales for the period were up 19 percent.